They were able to fill that need in a multiplayer deal with the Memphis Grizzlies on Tuesday.

The Cavs acquired forward/center Marreese Speights, shooting guard Wayne Ellington, point guard Josh Selby and a future first-round pick from the Grizzlies in exchange for power forward Jon Leuer. The Cavs waived point guard Jeremy Pargo.

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"Marreese will strengthen our frontcourt, while Wayne and Josh will add depth to our backcourt," Cavs general manager Chris Grant said. "At the same time, we are adding a valuable asset with another future first-round pick, while also maintaining our future flexibility."

The Cavs were able to make the deal because they had almost $10 million in salary-cap space. The move will save Memphis almost $6 million, keep them out of the luxury-tax threshold and allow them to hang onto high-scoring small forward Rudy Gay. The Grizzlies receive three trade exceptions in the deal, the largest being $4.2 million.

The Cavs will receive a first-round draft pick from the Grizzlies -- two years after Memphis has satisfied its current obligation to Minnesota. The first year the pick can be conveyed to the Cavs is 2015. It's protected Nos. 1-5 and 15-30 in 2015 and 2016, meaning the Cavs would acquire a pick in the Nos. 6-14 range. It's protected 1-5 in 2017 and 2018. If the pick has not been conveyed by 2018, it becomes unprotected in 2019.

Speights, a 6-foot-10, 255-pounder, is averaging 6.5 points, 4.7 rebounds and 0.7 blocks this season, his fifth in the NBA. The Florida product is shooting 42.9 percent from the field and 71.6 percent from the foul line in 40 games with the Grizzlies.

He was a member of the Gators' 2007 NCAA championship team that beat Ohio State in the finals. He was the 16th overall pick in the 2008 draft by Philadelphia.

Speights is a good mid-range shooter. He will likely fill the backup power forward position with the Cavs. The 25-year-old had to approve the trade before it could be consummated. He will earn $4.2 million this season and has a player option on his 2013-14 contract worth $4.5 million.

The 6-4, 200-pound Ellington was the No. 28 overall pick by Minnesota in the 2009 draft. The North Carolina product is known as a strong 3-point threat, which might threaten Daniel Gibson's roster spot. Ellington, 25, was shooting 42.3 percent from the arc in 40 games with the Grizzlies. He averaged 5.5 points and 1.1 assists.

Ellington's salary this season is $2.1 million. His qualifying offer for 2013-14 is $3.1 million. Selby earns $762,195 this year, with a team option on his 2013-14 deal worth $884,293.

Selby, a 6-2, 183-pounder from Kansas, appeared in just 10 games with the Grizzlies. He averaged 2.0 points and 0.4 assists this season, his second in the NBA. The 21-year-old Selby was a second-round pick in 2011. His presence allowed the Cavs to waive Pargo.

Leuer averaged 2.4 points in nine games with the Cavs this season. Pargo appeared in 25 games, 11 in the starting lineup, and averaged 7.8 points and 2.6 assists.

The Cavs also recalled power forward Kevin Jones from the Canton Charge and was available for Tuesday's game.